Brother, Can You Spare a Renminbi?
Who deserves to be poor in modern China? One man in China’s southern Zhejiang province certainly seemed sympathetic: Each day, he pushed himself along the street on a homemade wooden skateboard, his apparently paralyzed legs tucked under...
Rolling In It
How one might best translate “Bling Dynasty” into Chinese, I have no real idea. (Maybe “A Possessor of Uncouth Wealth,” Tuhao wangchao (土豪王朝), “Era of Dazzlement,” Liangxia shidai (亮瞎时代), or even the more straightforward “Bling Dynasty,”...
Does Size Matter? (In the U.S. and Chinese Economies, That Is...)
Last week, President Obama’s State of the Union Address touted a U.S. economic recovery.
Why Beijing’s Troubles Could Get a Lot Worse
Few foreigners know China as intimately as Anne Stevenson-Yang does. She has spent the bulk of her professional life there since first arriving in 1985, working as a journalist, magazine publisher, and software executive, with stints in...
The Long Soft Fall in Chinese Growth
As recently as the fourth quarter of 2013, there were few detractors from an optimistic assessment of China’s prospects to achieve a “soft landing” and continue to enjoy relatively stable growth in the 7 to 8 percent range for the next 10...
A dream, in the truest sense, is a solo act. It can’t be created by committee or replicated en masse. Try as you might, you can’t compel your neighbor to conjure up the reverie that you envision. And therein lies the latent, uncertain...
Chinese to the World: Ignore Our GDP
The U.S.-based World Bank grabbed everybody’s attention by announcing that China was poised to displace the United States as the world’s largest economy based on purchasing power. But a survey of the Chinese web shows people at home aren’t...
Will China’s Economy Be #1 by Dec. 31? (And Does it Matter?)
On April 30, data released by the United Nations International Comparison Program showed China’s estimated 2011 purchasing power parity (PPP) exchange rate was twenty percent higher than was estimated in 2005. What does this mean? China's...
Local Governments Aim for Lower GDP Growth This Year
Most of the local governments that have announced their GDP targets for this year aimed lower than they did in 2013, citing the need to rebalance the economy and improve the quality of growth. Many missed their growth targets last year....
China’s Way to Happiness
Richard Madsen is one of the modern-day founders of the study of Chinese religion. A professor at the University of California San Diego, the seventy-three-year-old’s works include Morality and Power in a Chinese Village, China and the...
Dreams of a Different China
Last November, China’s newly installed leader, Xi Jinping, asked his fellow Chinese to help realize a “Chinese dream” of national rejuvenation. In the months since then, his talk has been seen as a marker in the new leadership’s thinking,...
Xi Jinping Refills an Old Prescription
The reforms called for by the Third Plenum of the Eighteenth Party Congress have been, like so much else in China over the past few decades, part of an ongoing Chinese quest for national unity, wealth, and power. But, for those of us...
To Save or Not to Save
China is known for saving money, and as the country has become wealthier, the household saving rate has increased.
What China is Getting Right
Complain as we might about life in China, the last thirty-four years or so haven’t been all bad: we have seen three decades of roughly ten percent GDP growth, a whole lot of people eating a whole lot better than they did, and impressive...
A Changing China: Implications for Developing Countries
Three decades of rapid growth and structural change have transformed China into an upper-middle-income country and global economic powerhouse. China's transformations over this period wielded increasing influence over the development path...